Lloyds and Barclays have provided a £147m three-year development facility to Ronson Capital Partners for its Chiltern Street residential development in London. Each bank supplied half the loan.
Lloyds has also made a £89m three-year development loan to London Square and ARES Management LLC’s joint residential restorations of the Star and Garter building in Richmond and Ancaster House in Mayfair.
Graeme Alfille-Cook, head of developers at Lloyds Bank Commercial Real Estate, said: “The first quarter of 2015 has seen us structure several significant and innovative funding solutions. As we look ahead into the year our pipeline is as strong as it has been at any stage in the current cycle.”
Lloyds and Barclays provided around £400m of senior debt to Ronson Capital Partner’s Riverside Walk residential scheme at Millbank, SW1, in 2013.
The recent deals follow Lloyds’ leading of a £100m facility to Allied London’s No1. Spinningfields development in Manchester.